Consider a Country's Stability Before Opening Offshore Corporations
There are plenty of jurisdictions around the world that promise free trade, few regulations, and non-existent tax burdens. With all of those options, why would you automatically choose Panama as the right place to open your offshore corporations and bank accounts?
Panama law and Panama law firms have something that few other offshore jurisdictions can offer: stability.
Panama's legal system has been influenced by several countries. This allows Panama to pick and choose the best ideas that help its legal system function well so that it protects individual privacy while keeping order.
Many of the legal concepts used in Panama come directly from the United States of America. Some Anglo-American concepts embedded in the Panama legal system include:
- Habeas Corpus, which ensures that individuals have the right to meet with a judge instead of undergoing indefinite detention without a trial
- Judicial precedent, which creates continuity in the law instead of letting judges make rulings based on personal opinions instead of previous rulings.
- A Constitutional guarantee that individuals can only be prosecuted for violations of the law
- The idea that all accused individuals are innocent until proven guilty
These concepts have helped Panama create one of the most stable societies in Central and South America. Panama law and Panama law firms can rest assured that the country's laws have real meaning. Other countries in the area often have kangaroo courts that lead to instability in social and legal structure.
Click "next" to find out more about the economic stability of banks in Panama.
How Panama Law Benefits Offshore Clients
Offshore clients benefit from Panama law because the government has laws protecting individual privacy.
Panama currently has a tax treaty with the United States. This means the Panamanian government can share tax information at the request of the United States. Despite this treaty, Panama puts a lot of faith in privacy. That often means it will not turn over any account or financial records unless it has solid evidence showing that the someone is using an offshore account for illegal purposes.
Panama law and Panama law firms understand that many people keep their money in this jurisdiction because they want to take advantage of lower tax burdens and looser regulations. It is completely legal for someone in the United States, Asia, Europe, or other areas to open create offshore organizations in Panama.
More often than not, the Panamanian government will not turn over information unless there is serious evidence of illegal activity.
Also, keep in mind that Panama only has this treaty with the United States. Panama has made no promises to share account and financial information with governments in other countries.
It is completely legal for someone in the United States, Asia, Europe, or other areas to open create offshore corporations in Panama.
A good law firm can fill you in on the details so that you fully understand your rights. Just because you're not a citizen of Panama, doesn't mean you don't enjoy protection of certain laws.
That's a huge benefit for offshore clients that many jurisdictions do not offer.
Why It Makes Sense to Hire a Panama Law Firm to Represent Your Interests
Panama has a stable legal, financial, and social system that makes it attractive to offshore corporations all over the world.
No matter how much you know about Panama law, though, it helps to have a Panama law firm on your side.
Panama is a unique country with its own rules, procedures. Many of the people there speak Spanish and English.
Delvalle and Delvalle has been in this business for many years, so we know all of the ins and outs that can help you successfully establish your corporations as soon as possible.
A Panama law firm like Delvalle and Delvalle has experience working with clients from all over the world. That makes it easier for our lawyers and assistants to help you navigate Panama's legal system. In fact, we can create many offshore corporations on your behalf as long as we have the proper documentation.
Having a Panama law firm on your side also makes it easier for you to get forms to the proper people. Even the most regulated government has quirks that can affect how quickly it takes for documents to get processed. If you don't know the right person to talk to, then it could take longer for you to start reaping the benefits of your offshore organization.
Delvalle and Delvalle has been in this business for many years, so we know all of the ins and outs that can help you successfully establish your corporation as soon as possible.
When it comes down to it, it just makes sense to have a Panama law firm that can represent your interests, even when you're not in the country.